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05-04-2012, 11:22 AM
#541
Here is a presentation from LYC questions and answers in Malaya.Quite long but if you are invested or thinking of then a must see
http://www.mobtv.my/current_affairs-1131.html
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06-04-2012, 04:02 PM
#542
Well worth the 75 minutes.
I now clearly understand how they are going to sell everything in one form or another (including gypsum for plasterboard, for fertiliser, etc) and so there will be no waste, even though they have been asked to provide a design for a Waste Storeage Facility.
I liked them pointing out the radioactive content of the ore and any products will be lower than the bottle of table salt that they had there at the table.
COO Eric Noyrez is one smart cookie, and very clear in his explanations. Towards the end you could sense MD Datuk Mashal Ahmad's frustatration in having to correct the same wrong statements again and again, but he was very patient.
Hold, LT
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07-04-2012, 02:49 PM
#543
Lynas threatens to sue 45 NGOs
Some would say this is long overdue
http://english.cpiasia.net/index.php...tid=117:Latest
I guess it may be a way to get things moving and into production at the best possible clip--certainly any legal action can cut both ways as SMSL will be finding if LYC go ahead with this
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12-04-2012, 08:01 PM
#544
LYC ann on Malaysian courtcase
http://www.asx.com.au/asxpdf/2012041...56f6lrjjg8.pdf
Lynas Corporation (ASX:LYC, OTC:LYSDY) is pleased to announce that the High Court of Malaya
at Kuala Lumpur has denied an application for leave to apply for a judicial review of the decision of
the Malaysian Atomic Energy Licensing Board to approve the granting of a Temporary Operating
Licence to the Lynas Advanced Materials Plant (LAMP) in Malaysia. The application was referred
to in Lynas’ ASX announcement dated 23 February 2012.
Both Lynas and Malaysian Government opposed the application.
The Court ruled that because, as noted in Lynas’ ASX announcement dated 9 March 2012 , there
is an appeal in process to the Minister of Innovation, Science and Technology, it would not be
appropriate for the Court to intervene in the matter. Lynas understands that the appeal to the
Minister will be heard in April 2012.
Lynas Executive Chairman Nicholas Curtis said although the Court had ruled in Lynas’ favour the
present controversy in Malaysia surrounding the project was undermining both the LAMP and
Malaysia’s international investment reputation.
“This concerted political campaign, which is based on misinformation, is sabotaging the sciencebased, regulatory process established in Malaysia and confidence in that process,” Mr Curtis said.
“Since the project was first approved in 2007 the LAMP has been subjected to the highest degree
of scrutiny and public comment. It has been reviewed and received approval from both the
International Atomic Energy Agency and the Malaysian Atomic Energy Licensing board and every
safety box has been ticked. So it is disappointing that the highest safety standards integrated into
the plant to protect human and environmental safety are ignored by a few people.”
“The LAMP is safe for everyone concerned and we look forward to the day when that will be
recognised.”
In particular, Mr Curtis said, the continued attempts to link Lynas’ plant to Bukit Merah are without
foundation.
The tin mine waste used as the feedstock at Bukit Merah are completely different to the Mt Weld
rare earths used to feed the LAMP. The Bukit Merah feedstock had radiation levels 30 times higher
than the LAMP feedstock and the residue at Bukit Merah was 100 times the radiation levels of the
LAMP by-product.
Bukit Merah would not gain approval under either international or Malaysian regulatory standards
today, in contrast to the LAMP which complies with both.{SUN / 00788956}
2 of 2
“It is disturbing that this baseless scare campaign has created unnecessary anxiety and fear in the
community. However, we will continue to address that misinformation now, when we receive our
TOL and when we commence operations at LAMP,” Mr Curtis said.
The next step in the extended approvals process Lynas is currently managing is the appeal to the
Minister of Innovation, Science and Technology, as noted above.
“A country’s strict regulatory standards and investment reputation can be quickly undermined by an
environmental activist campaign designed to stifle and frustrate investment by lodging vexatious
legal challenges and appeals,” Mr Curtis said.
“The Malaysian Government must be able to provide certainty to Malaysian and international
businesses that they will not be frustrated by a campaign of delay once those companies have
completed the pre-defined and rigorous Malaysian Government regulatory approvals process.
“This misinformation campaign has frustrated Lynas, but our resolve and belief in the safety of the
LAMP and the benefits that will flow once the LAMP can operate have not been diminished.”
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21-04-2012, 11:32 AM
#545
Lynas has increased its public dialogue to educate Malays on the LAMP.They are showing openness and transparency.However if theses delays continue it comes at a financial cost to LYC .the Malay govt needs to ratify the TOL ASAP to maintain credability and ensure future foreign investment.
This although 1 1/2 hrs long is well worth watching http://www.mobtv.my/public_events-1235.html
I think that the TOL will be issued within a few days but who knows.once producing it would be reasonable to expect SP rising
Last edited by stevo1; 21-04-2012 at 05:02 PM.
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21-04-2012, 11:37 AM
#546
Member
Hi Stevo, am I right in thinking that the only hurdle now is the Ministerial review? Hard to imagine this being anything other than a rubber stamping exercise given the obvious desire from Govt. for the plant to go ahead.
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21-04-2012, 02:47 PM
#547
Originally Posted by stephens.pc
Hi Stevo, am I right in thinking that the only hurdle now is the Ministerial review? Hard to imagine this being anything other than a rubber stamping exercise given the obvious desire from Govt. for the plant to go ahead.
Hi Stephen It should be that simple HOWEVER the political football LAMP has become may make for more time delays (I hope not).The commission of LAMP is dependent on ore from MT Weld which will take some lead time to get there.There is also the 5 shareholders (Nominees who have 65% of the shares) who will be playing with the SP (shorting,dark pools etc).When LYC is up and producing then things may be different until then if the past is anything to go by its going to be a wild ride
Last edited by stevo1; 21-04-2012 at 05:09 PM.
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16-06-2012, 10:15 PM
#548
Originally Posted by stephens.pc
Hi Stevo, am I right in thinking that the only hurdle now is the Ministerial review? Hard to imagine this being anything other than a rubber stamping exercise given the obvious desire from Govt. for the plant to go ahead.
Finally the TOL is near --MAYBE ---SP seems like a screaming buy at 88cps but b%ggered if I know anyway I have bought more.
http://www.reuters.com/article/2012/...8HF33720120615
A statement from the Science, Technology and Innovation Ministry, which considered the appeal, said there was "no strong justification nor scientific or technical basis" to set aside the temporary operating licence given to the plant in January.
But the ministry told Lynas, which started building the 2.5 billion ringgit ($800 million) plant on Malaysia's east coast two years ago, it must take extra steps to prevent any radiation leakage before a suspension of the licence will be lifted.
Under the new conditions imposed, the firm must submit plans to immobilise radioactive elements in the waste it will produce and come up with an emergency response plan on dust control.
"We already have the answers for the two new conditions," Mashal Ahmad, the plant's managing director told Reuters.
The ministry's decision removes the bigger of two hurdles remaining before the plant can start production. A parliamentary select committee looking into the plant's safety is expected to release its report on Monday, with a debate to be held the day after.
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18-06-2012, 03:04 PM
#549
Originally Posted by KW
Because I'm lazy, and at work, has someone here done a quick analysis of the $ revenue/profits for LYC at todays REE prices?
In other words, just how undervalued is LYC?
KW theres been stacks of opinion on the $revenue/profits on other forums but really they are all quite meaningless because LYC is not producing ,the REE price is not relevent until production,god knows what the prices will be into the future depends on demand ,macro economics etc.So nothing is a sure thing here.I have just increased my holding by 20% prior to that i was free carrying.Youse pays yer money and take yer chances.
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27-06-2012, 09:56 PM
#550
Really think LYC has been oversold on tax-loss selling good buying in the low 80's for a rebound in July
might buy a few tomorrow BBG is also a great TL buy
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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